HSBC Visa Platinum Credit Card -Benefits, Features and Apply Online

HSBC, one of the world’s leading banks and financial services firms, has a considerable presence in India. HSBC, known for its comprehensive range of financial products and services, serves a varied customer base, providing solutions to address a variety of financial demands. 

Its HSBC Visa Platinum Credit Card is intended to offer cardholders a variety of incentives, including cashback, reward points, and unique privileges. It is designed for people who want a credit card that will help them with their everyday spending and financial management. 

Unlike many premium cards, the HSBC Visa Platinum Credit Card distinguishes itself with a distinct advantage: there is no annual fee. This eliminates a significant cost, allowing you to reap the card’s rewards without a recurring expense.

Earn reward points with every purchase, with accelerated points after exceeding a spending threshold. Redeem these points for exciting options like gift vouchers or travel miles. Additionally, enjoy the convenience of contactless payments and exclusive introductory offers. The HSBC Visa Platinum Credit Card is a smart choice for those seeking a rewarding and hassle-free credit card experience. 

But what are the benefits and features that set it apart? How can it enhance your financial management and shopping experience? 

Let’s dive in and find out.might be a perfect match.

Feed and Charges

Fee Type	Details
Joining Fee:	Free
Renewal Charges	Free
Interest Rate	3.3% per month (39.6% per annum)
Cash Advance Fee	2.5% of the amount (minimum ₹300)
Over-limit Fee	2.5% of the over limit amount (minimum ₹500)
Foreign Transaction Fee	3.5% of the transaction amount
Late Payment Fee	➡ ₹100 for statement balance up to ₹25,000 ➡ ₹350 for statement balance between ₹25,001 and ₹50,000 ➡ ₹500 for a statement balance above ₹50,000

Reward and Benefits

Reward Points	-2 points per ₹150 spent on all purchases. -5x points on dining, telecom, and grocery spending.
Fuel Surcharge Waiver	1% waiver on fuel surcharge at petrol stations.
Travel Benefits	Complimentary airport lounge access 8 times a year, including 2 international lounges.
Dining Discounts:	Up to 15% off at select partner restaurants.
Interest-Free Credit	Up to 52 days of interest-free credit on purchases.

Product Details

• Earn 2 points for every ₹150 spent on all purchases. Enjoy 5x points on dining, telecom, and grocery spending.
• Receive 2,000 bonus reward points on your first transaction. Enjoy up to 15% off at select dining outlets.
• Get complimentary access to airport lounges up to 8 times a year, including 2 international lounges.
• Enjoy a 1% waiver on fuel surcharge at all petrol stations in India.
• Avail up to 52 days of interest-free credit on your purchases.
• Tap and pay feature for quick and secure transactions.
• Widely accepted at millions of Visa outlets worldwide for shopping, dining, and more.

Advantages and Disadvantages

Advantages:

1. Enhanced Security: Advanced fraud protection and SMS alerts for transactions.
2. Exclusive Offers: Special discounts on lifestyle and health services.
3. Personalized Service: Dedicated customer support and relationship management.
4. Health Benefits: Access to wellness programs and discounts on health services.
5. Flexible Rewards: Options to redeem points for charity donations.

Disadvantages:

1. Limited Merchant Acceptance: Occasional restrictions on where the card can be used.
2. Complex Rewards System: A tiered structure may require careful tracking.
3. Potential Annual Fee: Fee may apply after the initial fee waiver period.
4. Minimum Spend Requirements: Some benefits may require minimum spending.
5. Currency Fees: Charges for foreign transactions and currency conversion.

HSBC Visa Platinum Credit Card: Features and Benefits

#1. Welcome Benefit:

• New cardholders of the HSBC Visa Platinum Credit Card enjoy a welcome gift of INR 2,000 worth of gift vouchers upon card activation.
• Additionally, they receive 10% cashback on all spends within the first 90 days, capped at INR 2,000.

#2. Milestone Rewards:

• Cardholders earn 2 reward points for every INR 150 spent on the card.
• On reaching annual spending of INR 4,00,000, they receive an additional 2,000 reward points as a milestone bonus.

#3. Travel Lounge Access:

• Enjoy complimentary access to domestic and international airport lounges up to 2 times per quarter through the Visa Lounge Access program.

#4. Forex Markup Fee:

• Enjoy a reduced forex markup fee of 3.5% on international transactions, making it cost-effective for overseas purchases.

#5. Fuel Surcharge Waiver:

• Get a complete waiver on fuel surcharge at all fuel stations across India, capped at INR 250 per statement cycle.

#6. Reward Points Accumulation:

• Earn 2 reward points for every INR 150 spent on eligible retail purchases.
• Additional 2,000 bonus reward points on achieving annual spending of INR 4,00,000.

#7. Accelerated Rewards:

• Enjoy accelerated reward earnings on select categories such as dining, groceries, and fuel purchases.
• Earn up to 5X reward points on special promotional offers and partner merchant transactions.

#8. Flexibility and Value:

• Transfer reward points to frequent flyer programs or hotel loyalty programs for travel benefits.
• Flexibility in redeeming points ensures cardholders can maximize value based on their preferences and spending habits.

#9. Redemption Options:

• Redeem accumulated reward points for a variety of options including:
  • Merchandise from HSBC’s rewards catalogue.
  • Gift vouchers from leading brands and retailers.
  • Statement credit against outstanding balances.

HSBC Visa Platinum Credit Card: Fees and Charges

Joining Fee	➡  ₹0 (No joining fee)
Annual Fee	➡ ₹0 (No annual fee for both joining and renewal)
Interest Rate	➡  3.3% per month (39.6% per annum) on revolving balances
Cash Advance Fee	➡  2.5% of the amount withdrawn or ₹300, whichever is higher
Overlimit Fee	➡ 2.5% of the over limit amount, subject to a minimum of ₹500
Foreign Currency Transaction Fee	➡  3.5% of the transaction amount
Statement Retrieval Fee	➡ ₹100 per statement beyond 3 months
Cheque Return Fee	➡ ₹350
Late Payment Fee:	➡ ₹100 for statement balance up to ₹25,000 ➡ ₹350 for statement balance between ₹25,001 and ₹50,000 ➡ ₹500 for a statement balance above ₹50,000

Welcome Benefits of HSBC Visa Platinum Credit Card

• Bonus Reward Points: Receive 2,000 bonus reward points on your first transaction.
• Dining Discount: Enjoy up to 15% off at select partner restaurants.
• Lounge Access: Complimentary airport lounge access at select domestic and international airports.
• Shopping Vouchers: Get exclusive shopping vouchers worth up to ₹1,000 upon card activation.
• First-Year Fee Waiver: No joining fee and no annual fee for the first year.

Why Choose the HSBC Visa Platinum Credit Card?

1. No Annual Fee: Enjoy the convenience of no annual fee for both joining and renewal, making it cost-effective for everyday use.
2. Reward Points: Earn reward points on every purchase, with accelerated points on dining, groceries, and more, enhancing your savings and benefits.
3. Welcome Benefits: Receive 2,000 bonus reward points on your first transaction, along with discounts on dining and shopping vouchers upon activation.
4. Fuel Surcharge Waiver: Benefit from a 1% waiver on fuel surcharges at all petrol pumps across India, reducing your overall fuel expenses.
5. Global Acceptance: Widely accepted at millions of Visa outlets worldwide, offering convenience and reliability wherever you go.

HSBC Visa Platinum Credit Card: Terms and Conditions

Interest Rates:

• 3.3% per month (39.6% per annum) on revolving balances.
• Interest-free period of up to 52 days, provided the previous month’s dues are paid in full.

Billing and Payments:

• Statements are generated monthly and sent to the registered email or postal address.
• Payment due dates and minimum payment amounts must be adhered to avoid late fees.

Usage:

• Global acceptance at over 24 million Visa outlets.
• Not valid for purchases of foreign exchange or certain restricted goods and services.

Customer Service:

• 24/7 customer support is available through phone, email, and online chat.

Amendments:

• HSBC reserves the right to modify terms and conditions at any time with prior notice to cardholders..

Interest-Free Credit:

• Up to 52 days of interest-free credit on purchases if the previous month’s outstanding balance is paid in full.

Who Can Apply for the HSBC Visa Platinum Credit Card?

To apply for the HSBC Visa Platinum Credit Card, applicants must meet certain eligibility criteria set by HSBC. Here are the detailed requirements:

A. Age Criteria:

• Primary Cardholder: Must be between 18 and 65 years old.
• Add-on Cardholder: Must be at least 18 years old.

B. Income Criteria:

• Applicants must have a stable and regular source of income.
• The minimum income requirement is typically around ₹4,00,000 per annum, though this may vary based on HSBC’s policies and promotional offers.

C. Employment Status:

• Both salaried and self-employed individuals are eligible to apply.
• Proof of employment or business continuity is required.

D. Credit History:

• A good credit score of at least 750 is essential. Applicants should have a history of timely repayments and no defaults.
• HSBC may check the applicant’s credit report from credit bureaus as part of the application process.

E. Residency Status:

• The applicant must be an Indian resident.
• Non-resident Indians (NRIs) and persons of Indian origin (PIOs) may also apply if they meet the bank’s specific criteria.

Documentation Needed for HSBC Visa Platinum Credit Card

Identity Proof	Address Proof
Aadhaar Card	Aadhaar Card
Passport	Utility Bills (electricity, water, etc., not older than 3 months)
Voter ID	Passport
PAN Card	Rental Agreement

1. Income Proof: (For Salaried Individuals)
   • Latest salary slips (last 3 months)
   • Form 16
   • The last 3 months’ bank statements showing salary credits
   • (For Self-Employed Individuals)
   • Last 2 years’ income tax returns (ITR)
   • Audited financial statements
   • The last 6 months’ bank statements
2. Photographs:
   • Recent passport-sized photographs (usually 2 to 3 photos)
3. Additional Documents:
   • Proof of Age (if not covered by identity proof): Birth certificate, Passport, or PAN Card.
   • Proof of Residency (for NRIs/PIOs): Passport, OCI/PIO card, or overseas address proof.

Application Process for HSBC Visa Platinum Credit Card

• Visit HSBC India’s Website: Go to the official HSBC India website
• Navigate to Credit Cards: Find and click on the “Credit Cards” section.
• Select Visa Platinum Credit Card: Choose the HSBC Visa Platinum Credit Card.
• Fill Out the Application Form: Complete the online form with personal, contact, and employment details.
• Upload Documents: Scan and upload identity proof, address proof, income proof, and photographs.
• Submit Application: Review all information, submit the application, and await confirmation from HSBC.

FAQs